Marketvision Direct, Inc.

February 29, 2008 14:30 ET

Marketvision Direct, Inc. Announces Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - Feb. 29, 2008) - Marketvision Direct, Inc. (TSX VENTURE:MKT) (the "Corporation" or "Marketvision") is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 8,333,333 units of the Corporation (the "Units") at a price of $0.06 per Unit for aggregate gross proceeds of up to $500,000. Each Unit will consist of one common share of the Corporation (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one common share ("a "Warrant Share") at a price of $0.10 per Warrant Share for a period commencing on the date of closing and ending on the date that is the earlier of (i) one year after the date of closing or (ii) the day of completion by the Corporation of a private placement financing of common shares at a minimum price of $0.10 per common share for aggregate gross proceeds to the Corporation of up to $3,500,000.

The securities sold under the Private Placement will be subject to restrictions on resale for a period of 4 months from the date of closing.

Proceeds of the Private Placement will be used to conduct due diligence on potential acquisition opportunities and general corporate purposes.

The issuance of the Units and listing of the Common Shares and the Warrant Shares pursuant to the Private Placement is subject to the TSX Venture Exchange approval.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Marketvision Direct, Inc.
    Thomas Vukovich
    President and Chief Executive Officer
    (416) 367-0150
    (416) 367-0165 (FAX)
    Marketvision Direct, Inc.
    John Clark
    Chief Financial Officer
    (416) 367-0150
    (416) 367-0165 (FAX)